The Hindu : Business : Ispat to invest Rs. 2,000 cr.

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Wednesday, Dec 06, 2006
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Ispat to invest Rs. 2,000 cr.

Staff Correspondent

MUMBAI: Ispat Industries on Tuesday signed a memorandum of understanding (MoU) with the Maharashtra Government to expand its steel-making capacity at its integrated steel plant at Dolvi in Raigad, Maharashtra.

The expansion plan includes increasing its steel-making capacity from the current three million tonnes per annum (tpa) to five million tpa, entailing an investment of about Rs. 2,000 crore and creating new employment opportunities to over 10,000 people directly and indirectly, according to a statement issued by the company.

The steel making capacity will be scaled up to 10 million tonnes in later phases while the first phase of expansion will be completed over 18 months from the date of commencement of work.

A second blast furnace, a coke oven plant and a new slab caster will be added to the existing facility. Ispat's existing three million tpa integrated steel complex at Dolvi was set up with an investment of over Rs. 10,000 crores. The unit employs 6,000 people directly and indirectly.

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